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Title register on selling property

Ando
Ando Posts: 30
Part of the Furniture Combo Breaker
Forumite
in House buying, renting & selling
Hi all,

I'm currently in the process of selling a jointly owned property and solictor tells me I have 2 restrictions on the title register of the property. (not a registered charge)

As it is not a registered charge, the solictor says the sale can still go through whether I agree to the amounts they demand or not. There is some equity on the property.

My ex partner who jointly owns the property is not liable for any of the restrictions.

What I want to know is. If I don't agree to the payments to former creditiors where do I stand in regards to proceeds of equity? Where would I stand after when the sale goes through?

Thanks


Comments

  • BlondBoy
    BlondBoy Posts: 186
    Part of the Furniture 100 Posts Name Dropper
    Forumite
    How is your solicitor going to reassure the buyer that the restrictions will be dealt with at completion?
  • RAS
    RAS Posts: 37,055
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    edited 27 March 2022 at 12:01PM
    Think you be better off on the debt forum. Even charges can be circumvented on jointly owned property.

    Charging Order? The myth - Page 465 — MoneySavingExpert Forum
    If you've have not made a mistake, you've made nothing
  • Snookie12cat
    Snookie12cat Posts: 805
    500 Posts Third Anniversary Name Dropper
    Forumite
    edited 27 March 2022 at 12:10PM
    Watch out and make sure your solicitor explains to your buyers well ahead of time what is going on as this just happened to me, and the completion collapsed. 

    My solicitor thinks the charges need paying the sellers does not. As a buyer I have been advised not to continue without having them paid and removed by the seller. 
    So now we are in limbo while it is sorted and we figure out what to do next. Any buyer is going to be worried how these will be removed post completion.

    You best get this address right at the start as it will cause a headache for you. 
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